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The total cost C(q) of producing q goods is given by: C(q) = 0.01q^{3}-0.6q^{2}+14q What is the fixed cost? fixed cost = 0 dollars What
The total cost C(q) of producing q goods is given by: C(q) = 0.01q^{3}-0.6q^{2}+14q What is the fixed cost? fixed cost = 0 dollars What is the maximum profit if each item is sold for 6 dollars? (Assume you sell everything you produce.) maximum profit = _____________dollars Suppose we fix production at 32 goods are produced, and that they all sell when the price is 6 dollars each. Also suppose that for each 1 dollar increase in price, 2 fewer goods are sold (so if the price is 7 dollars, 30 of the 32 goods being produced are sold.) To maximize profit in this case, we should the price by dollars _________ (Enter zero if the price should remain at 6 dollars.)
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